“Trump has most recently floated an explosive reform to eliminate federal income taxes, some of which fund Social Security. Replacing this income source would be difficult, as the Trump administration is generally in favor of cutting and slashing taxes across the board,” she said. ...
Social Security forms the foundation for the nation's retirement income system and, in doing so, provides benefits that are critical to the well-being of millions of Americans. A wide array of proposals have been put forth to restore the program's solvency. This testimony provides an ...
neither of them has offered up a comprehensive plan detailing how exactly they’d fulfill this promise and protect Americans’ retirement benefits from harmful proposals in Congress. The need to speak out about the issue is especially urgent given that a growing number of Congressional Republicans ar...
Now, the scoring here relies on specific proposals, which have not been explained fully here, but these numbers give some idea of how impactful each proposal would be in closing the gap. For example, simply eliminating the cap on Social Security taxes — limited to income below $176,...
“I’m calling for no tax on tips, no tax on overtime and no tax on Social Security benefits for our great seniors,” Trump said in an address to a joint session of Congress on March 4. More beneficiaries are getting taxed on their benefits than ever before ...
The Social Security Fairness Act overwhelmingly passed the House in early December and on December 18 cleared a key Senate procedural vote by 73 to 27. …half a century ago, Congress realized that Social Security benefit windfalls for public sector employees were costly, unnecessary and unmerited....
The proposals moving on Capitol Hill are straightforward: “The Commissioner of Social Security shall adjust primary insurance amounts to the extent necessary to take into account” changes in the law. And the Social Security Administration, through income tax filing...
The trust funds that help pay Social Security benefits to some 67 million Americans are projected to run dry in 2035, the Social Security Administration (SSA) outlined in its annual report to Congress.
Nearly 3 million people could receive a boost in Social Security payments under legislation that's set for a final vote in the Senate.
since George W. Bush, another Republican, has tried (or talked about) and failed to finalize a comprehensive, bipartisan immigration plan that could provide a path to citizenship for the millions of people in the country illegally. Any such path would be long and arduous in those pro...